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NGIF vs PAVE: which is really different?

PAVE holds 63.9% of its weight in S&P 500 companies and NGIF 50.1%. Nuveen Global Infrastructure Fund: ETF Class Shares and Global X U.S. Infrastructure Development ETF.

PAVE costs 0.41 points a year less.

NGIFPAVE
Expense ratio0.88%0.47%
Net assetsnot read by ETFIQ$13.6bn
Total return, 1 yearnot published+13.2%
What it tracksInfrastructureInfrastructure
Holdings in commonnot published
S&P 500, total return, since Jun 3, 2026+3.8%
S&P 500, total return, 1 year+17.3%
Against the S&P 500, since Jun 3, 2026behind by 8.3 pts
Against the S&P 500, 1 yearbehind by 4.1 pts
Below its all-time high8.6%, high on Jun 26, 202610.8%, high on Jun 25, 2026
50.1%
NGIF in the S&P 500
63.9%
PAVE in the S&P 500
−4.5%
NGIF total return, since launch
+13.2%
PAVE total return, 1 year
NGIF · 3 months to Oct 9, 202650% of its weight is outside the S&P 500
50% of its weight is outside the S&P 50050% of NGIF's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jun 30, 2026.50%50%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 39% of the fund · 66 holdings as filed for Jun 30, 2026 · Nasdaq-100: 12% in50% of its weight is outside the S&P 50050% of NGIF's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jun 30, 2026.50%50%in the S&P 500outside the S&P 500active share 98% · Nasdaq-100: 12% in

50% of NGIF's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jun 30, 2026.

PAVE · 1 year to Oct 9, 202636% of its weight is outside the S&P 500
36% of its weight is outside the S&P 50064% of PAVE's weight is in S&P 500 companies and 36% is outside the index. Holdings as of Oct 8, 2026.64%36%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 97% · top ten 33% of the fund · 100 holdings as published by its issuer for Oct 8, 2026 · Nasdaq-100: 7% in36% of its weight is outside the S&P 50064% of PAVE's weight is in S&P 500 companies and 36% is outside the index. Holdings as of Oct 8, 2026.64%36%in the S&P 500outsideactive share 97% · Nasdaq-100: 7% in

64% of PAVE's weight is in S&P 500 companies and 36% is outside the index. Holdings as of Oct 8, 2026.

ETFIQ Off-Index Score · NGIF scores higherHow much of it is not the index it is sold as an alternative to?
0.1, the lowest in this set92.3, the highest

A percentile among the 391 thematic ETFs with a holdings filing. All thematic ETFs ranked by it → How it is computed →

Performance, window by window

Total returnvs the S&P 500vs the Nasdaq-100
WindowNGIFPAVENGIFPAVENGIFPAVE
3 months−7.8%−5.7%−11.2 pts−9.1 pts−11.5 pts−9.4 pts
6 monthsnot published−2.0%not published−17.2 ptsnot published−25.2 pts
1 yearnot published+13.2%not published−4.1 ptsnot published−10.4 pts
3 yearsnot published+78.0%not published−7.8 ptsnot published−29.3 pts
Since launch
NGIF Jun 2026 · PAVE Mar 2017
−4.5%+285.0%−8.3 pts+1.6 pts−5.7 pts−228.9 pts

Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

NGIF
Nuveen Global Infrastructure Fund: ETF Class Shares · Holds 66 stocks in infrastructure, 50% of its weight in S&P 500 companies
PAVE
Global X U.S. Infrastructure Development ETF · Holds 100 stocks in infrastructure, 64% of its weight in S&P 500 companies
Issuer Nuveen Global X
Theme Infrastructure Infrastructure
In the S&P 500 50.1% 63.9%
Active share vs the S&P 500 97.7% 97.2%
In the Nasdaq-100 11.7% 6.5%
Holdings 66 100
Top ten, share of the fund 39.1% 32.9%
Expense ratio 0.88% 0.47%
Fee for the differing part 0.90% 0.48%
Total return, 1 year −4.5% (since it first traded on Jun 3, 2026) +13.2%
vs the S&P 500 −8.3 pts −4.1 pts
vs the Nasdaq-100 −5.7 pts −10.4 pts
Below its high −8.6% −10.8%
Net assets not read by ETFIQ $13.6bn

As of Oct 9, 2026. Source: ETFIQ.

NGIF in plain words

By weight, 50% of NGIF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 39% of the fund across 66 positions, as filed for Jun 30, 2026. Since it first traded on Jun 3, 2026 the fund returned −4.5% with distributions reinvested against +3.8% for the S&P 500, so a holder was behind by 8.3 pts. It sits 8.6% below its all-time high of Jun 26, 2026.

PAVE in plain words

By weight, 64% of PAVE's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 33% of the fund across 100 positions, as published by its issuer for Oct 8, 2026. Over the year to Oct 9, 2026 the fund returned +13.2% with distributions reinvested against +17.3% for the S&P 500, so a holder was behind by 4.1 pts. It sits 10.8% below its all-time high of Jun 25, 2026.

Questions people ask

Which is more different from the S&P 500, NGIF or PAVE?
NGIF has 50% of its weight in S&P 500 names and PAVE has 64%, so NGIF differs more from the index.
Which is cheaper, NGIF or PAVE?
NGIF charges 0.88% a year and PAVE charges 0.47%, so PAVE is cheaper. Fees come from each fund's prospectus.
Other comparisons
NGIF vs BKGINGIF vs GIINGIF vs EFRANGIF vs IFRAPAVE vs BKGIPAVE vs BLDXPAVE vs CSIOPAVE vs EFRA
NGIF on its own →PAVE on its own →How every figure is computed →Standards and sources →
Where these figures came from
NGIF filings on SEC EDGAR ↗NGIF prospectus with the expense ratio (SEC) ↗PAVE filings on SEC EDGAR ↗PAVE prospectus with the expense ratio (SEC) ↗Global X page for PAVE ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

It is a position in a set, not a rating, and neither end of it is a recommendation.

Every figure is an ETFIQ calculation with distributions reinvested.

Cite this page

ETFIQ, NGIF against PAVE, data as of Oct 9, 2026. https://etfiq.com/compare/themes/ngif-vs-pave

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.